Completion of acquisition

RNS Number : 9711W

Schroder Eur Real Est Inv Trust PLC

07 August 2018

 

7 August 2018

Completion of Acquisition

Schroder European Real Estate Investment Trust Plc ("SERE" or the "Company"), the company investing in European growth cities, has completed the purchase of a freehold logistics property in Rumilly, France for €8.6 million, as announced on 21 June 2018.

The 16,700 sqm warehouse was acquired off a net initial yield of 7% and is fully let to a strong covenant, a subsidiary of the global food and drink manufacturer Nestlé, with an unexpired lease term of c. 7.5 years. In line with the Company's winning centres strategy, it is located in a region whose economy is forecast to grow faster than the national average¹ and is leased off affordable / sustainable rents, in an area where there is limited supply.

¹Oxford Economics 2018

Enquiries:

Duncan Owen/Jeff O'Dwyer

Schroder Real Estate Investment Management Limited                  Tel: [phone]

Ria Vavakis

Schroder Investment Management Limited                                     Tel: [phone]

Dido Laurimore/Richard Gotla/Methuselah Tanyanyiwa                Tel: [phone]

FTI Consulting   

 

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